Precision Wealth Strategies LLC Takes $510,000 Position in AppFolio, Inc. (NASDAQ:APPF)

Precision Wealth Strategies LLC purchased a new stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,319 shares of the software maker's stock, valued at approximately $510,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of APPF. Janney Montgomery Scott LLC purchased a new stake in AppFolio in the first quarter worth about $305,000. Azzad Asset Management Inc. ADV grew its holdings in AppFolio by 78.8% in the first quarter. Azzad Asset Management Inc. ADV now owns 15,479 shares of the software maker's stock worth $3,404,000 after purchasing an additional 6,823 shares during the period. Fifth Third Bancorp grew its holdings in AppFolio by 53.0% in the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock worth $39,000 after purchasing an additional 62 shares during the period. Handelsbanken Fonder AB grew its holdings in AppFolio by 40.7% in the first quarter. Handelsbanken Fonder AB now owns 7,600 shares of the software maker's stock worth $1,671,000 after purchasing an additional 2,200 shares during the period. Finally, GAMMA Investing LLC grew its holdings in AppFolio by 110.1% in the first quarter. GAMMA Investing LLC now owns 353 shares of the software maker's stock worth $78,000 after purchasing an additional 185 shares during the period. Hedge funds and other institutional investors own 85.19% of the company's stock.

Insider Buying and Selling

In related news, CEO William Shane Trigg sold 5,900 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $211.45, for a total transaction of $1,247,555.00. Following the transaction, the chief executive officer now directly owns 70,647 shares in the company, valued at $14,938,308.15. The trade was a 7.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Elizabeth Erin Barat sold 4,682 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $227.79, for a total value of $1,066,512.78. Following the transaction, the insider now owns 17,926 shares in the company, valued at approximately $4,083,363.54. This trade represents a 20.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 18,500 shares of company stock valued at $4,024,220 and sold 11,639 shares valued at $2,547,802. 4.68% of the stock is owned by corporate insiders.

AppFolio Stock Performance

Shares of NASDAQ:APPF traded down $6.96 on Tuesday, reaching $220.62. The company's stock had a trading volume of 259,634 shares, compared to its average volume of 275,879. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $274.56. The company has a market cap of $7.95 billion, a P/E ratio of 41.16 and a beta of 0.87. The company has a 50-day simple moving average of $216.04 and a 200 day simple moving average of $228.68.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.02). AppFolio had a return on equity of 25.83% and a net margin of 23.87%. The business had revenue of $217.70 million for the quarter, compared to the consensus estimate of $220.95 million. During the same period in the prior year, the business posted $1.05 earnings per share. AppFolio's revenue was up 15.9% on a year-over-year basis. On average, equities research analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods dropped their target price on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a research note on Friday, April 25th. Piper Sandler reissued a "neutral" rating and issued a $265.00 price objective on shares of AppFolio in a research note on Wednesday, April 23rd. Finally, DA Davidson raised shares of AppFolio to a "strong-buy" rating in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $274.43.

AppFolio Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.